GM acquires 25% stake in electric navigation company


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General Motors is investing tens of billions of dollars to electrify the vast majority of its fleet within 15 years.

But its ambitions in electric transport are not limited only to highways. The Detroit-based automaker is also developing zero-emission systems for rail, trucking and aerospace applications, and now the company can add water transportation to the list.

GM announced the acquisition of a 25% stake in Pure Watercraft, a Seattle-based company founded in 2011 that manufactures battery-powered outboard boat motors.

The automaker reportedly paid $ 150 million for its share of Pure, including cash and in-kind contributions, which would bring the company’s overall value to $ 600 million. The companies said the deal would combine Pure’s marine expertise with GM’s much larger engineering, supply chain and manufacturing capabilities.

Pure said the deal would lead to significant advancements in battery lineup and charging capabilities, while allowing the company to achieve volume production. The company’s current outboard propulsion system, powered by a lithium-ion battery, can either be installed in cooperation with boat builders or dropped into any conventional 25- to 50-horsepower boat to replace the motor. gasoline outboard.

In addition to its environmental benefits, Pure claims its engine offers lower operating and maintenance costs than conventional boat engines.

GM, meanwhile, said the companies will jointly develop and market battery-powered electric watercraft and integrate the automaker’s technology into a variety of new applications. The company said details on new marine products developed under the partnership will be announced at a later date.

Image Credit: Pure Watercraft

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